NEW YORK (dpa-AFX) – The US stock markets presented themselves in a directionless and sluggish manner during trading on Tuesday. According to stockbrokers, investors are unsure whether the pledges by the US Federal Reserve and the Biden administration to overheat the economy could trigger destabilizing inflation. The day before, the leading indices had marked further highs and, with the sixth trading day in a row, recorded the longest profit streak since August 2020.
The Dow Jones Industrial (Dow Jones 30 Industrial) was recently quoted 0.06 percent up at 31,403.88 points. The market-wide S&P 500 lost 0.06 percent to 3913.08 points. The tech-heavy NASDAQ 100 fell 0.05 percent to 13,687.50 points.
The meanwhile quite high valuations of many stocks made investors pause while they cheered the better economic outlook as well as the global slowdown in corona infections and the advancing vaccination efforts, it said from the trade. The inflation expectations, which are approaching the highest level since 2013, also raise the question of when this will become a threat to stocks.
Among the individual stocks, the shares of DuPont (DuPont de Nemours) were in the investor focus with a loss of 2.2 percent. The corona pandemic had pulled the US specialty chemicals company deep into the red last year. For 2020, a loss of almost 3 billion dollars was on the books, after DuPont had made around half a billion profit in the previous year. However, a profit jumped out in the final quarter.
Constellation Brands’ paper (Constellation Brands A), however, rose 2.2 percent to $ 233.59. The analysts at Goldman Sachs had included the stocks of the beer and spirits group in the “Conviction Buy List” of particularly promising investments and raised the target price from 255 to 275 dollars.
On the other hand, a possible deal between the genetic diagnostics specialists Quidel and QIAGEN met with a different response. While Qiagen shares fell 3.6 percent in New York, Quidel shares rose 1.7 percent. The day before, when speculation first circulated, the price trend had been exactly the opposite. Commerzbank said that if the two companies were to merge, their dependency on corona-related sales would be quite high. This holds “challenges” with a view to 2022./edh/he
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